What do I need to think about before meeting with a lawyer to have my will done?

Key aspects of your will

Before seeing a lawyer to have your will done, you should take the time to think about the key decisions you will have to make. By doing this, you will save money and ensure you have the necessary time to make those decisions. This infographic will give you some guidance. Thinking about these before meeting your lawyer can save you time and money.

Executor

The person who will carry out the instructions of your will.

Distribution of your assets

Gifts to friends, family members and charity. These are beneficiaries. The items going to them are “bequests.”

You may consider staggering wealth distribution to children if they are young (i.e., half at 25, balance at 30).

Power of attorney (POA)

Financial POA: Allows you to name a person to take responsibility of your finances if you were ever to lose capacity. This is cancelled when you pass away.

Healthcare POA: This person will make healthcare decisions on your behalf if you were ever to lose capacity.

Guardians for children

Applicable to minor children. When appointing guardian(s), the appointment is valid for only 90 days after death. To be granted permanent custody, the named guardian must make a court application.